CY 2022 has witnessed all the events of market sentiments that has made the stock markets volatile all throughout the year and are expected to remain the same in the next term. Though, the Indian economy faced challenges regarding rising real estate prices, commodity prices and inflation being the major highlight of the year, the …
Christmas is a time of year when many people think about their finances. Whether you are looking to save money on Christmas gifts or you are trying to plan for the future, there are a few ways you can go about financial planning during the holiday season. Here are some tips to help you have …
The Palm Olein Import Scam refers to allegations of corruption in the import of palm olein by K. Karunakaran, the leader of Kerala’s United Democratic Front government. The Kerala government chose Power and Energy Limited at random, without seeking offers. How was the scam discovered? The Kerala government purchased 15,000 tonnes of palm oil from …
It has been nearly three decades since the Sukh Ram telecom equipment scandal first made headlines. The case, which began in 1996, centered on allegations that Sukh Ram, a former Cabinet minister in the Indian government, had accepted bribes in exchange for awarding contracts to favored companies. Sukh Ram was forced to resign from his …
The Hawala scandal was a major Indian financial scam involving black money sent by politicians through hawala brokers in 1991. Some of the country’s top politicians were implicated in an 18-million-dollar bribery scandal. How did Scam become well-known? After getting arrested in 1991, Ashfaq Hussain, a suspected member of the terrorist organization revealed large-scale payments …
The Jalgaon housing scam was a financial fraud in the Maharashtra city of Jalgaon and involved the illegal diversion of approximately Rs 110 crore in loaned public municipal funds. The funds were designated for a 1996-launched project to construct over 11,000 subsidized housing units. The incident is one of the largest scams in Maharashtra’s history. …
Rule 72 – It is a name of a simple way for finding the time period required to double your money at certain interest rate per period (e.g., per year). It is mostly use for mental calculations or when only simple calculator is available for calculations. Basically, It is used for estimating an approximation of …
RULE of 72: Layman’s Tool To Calculate Time To Double Your Money Read More »
In 1992, the Harshad Mehta scam wiped out more than a third of the market valuation and led to many changes made in the Indian stock market by the government. Harshad Mehta’s $1.3 billion stock market manipulation paved the way for more robust, stricter, and intelligent market regulation. He convinced banks to transfer funds to …
1. Commonwealth Games Scam 2010 When India hosted the Commonwealth Games in 2010, approximately 70,000 crores were stolen from the country’s coffers. It is estimated that only half of the money set aside for Indian athletes was spent. The organizing committee of the 2010 Commonwealth Games in India awarded Swiss timings a contract worth 141 …
Major Financial Scams in India Between 2010-2022 (Part-3) Read More »
1. Ketan Parekh securities scam 2001 Ketan Parekh was a trainee at GrowMore, Harshad Mehta’s company. He was a suspect in several frauds in which Growmore was involved. When the dot-com bubble burst in the late 1990s, he began investing in low-liquidity IT and telecom firms. Because of the significant increase in the value of K-10 …
Major Financial Scams in India Between 2000-2010 (Part-2) Read More »
